London-based online gaming software designer and developer Playtech struck a deal with lucrative and renowned German gaming brand Merkur Interactive, a division of German gaming machine manufacturer Gauselmann Group according to recent Germany gambling news.
The move was announced as the duo vow to create an online gaming partnership that will be specifically aimed at the German audience, in the hope to crack the German internet casino market for online gambling.
Sports betting, online casinos, and other forms of regulated online gambling, are expected to the be the order of the day for the partnership, pending approval for specific licenses for each brand, activity and region.
The deal is reported to have put the Gauselmann Group, at a 50.01 percent share in the venture, although all board power is believed to be split equally down the middle.
The deal is expected to be the start of a long-lasting friendship between the two companies as they aim to produce products specifically for the online gaming scene in the country and in full compliance with German gambling laws.
Merkur Interactive’s Chief Executive Officer, Dirk Quermann had the following to say on the partnership: “In Playtech we found the right partner to work with to provide a successful offer for the German online market even in the face of tough competition from international gaming groups.”
He went on to add: “The joint venture will be able to particularly benefit from the high awareness level of our brand where the logo of the smiling Merkur sun is the most popular gaming symbol in Germany, our first-class games as well as Playtech’s profound experience and comprehensive technical and especially marketing know-how in the field of Internet gaming.”
Mor Weizer, Quermann’s counterpart over at Playtech, was equally optimistic in his appraisal of the deal: “While the regulatory and fiscal environment remains uncertain, it is clear that a partnership between Playtech and Gauselmann can deliver a combination of market-leading capabilities, which have the potential to achieve a significant market share however the market regulation develops. A joint venture structure was viewed by both parties as being the best way to achieve their strategic goals and has the potential to deliver significant returns to both shareholders.”
Both of the parties are believed to be looking forward to a brighter future for online casinos in Germany, and with Playtech’s technological input and innovative design, and Merkur’s popularity at knowing what exactly it is, that their German gamers want, hopes are high for this intriguing venture.